Prior to the Easter break, the firm had acquired more than a quarter of the outstanding shares in the firm with a holding of 26% on the 13 April.

Dagsbrn has until 60 days after its offer to receive acceptances for its 1.55 per share offer from 90% of the print group's shares.

That the 14 April the date initially quoted for acceptance has passed does not affect the deal.

Wyndeham chief operating officer Roy Kingston said that it would "take a while for the acquirer to get all the shares", but that the firm was making "steady progress".

"The timescale is more under control of the shareholders," said Kingston.

"The institutions that hold the bulk of the shares always hold back.

Dagsbrn is happy, the company is happy, it is all going forwards."

Timeline

- 23 March Wyndeham share price rises 15% after it confirms offer

- 24 March Dagsbrn subsidiary Daybreak Acquisitions makes a recommended cash offer for Wyndeham

- 13 April Dagsbrn acquires 13,484,153 Wyndeham shares (25.93%)